Situation of Peas in Canada and the USA:

20-Feb-2025 12:46 PM

Situation of Peas in Canada and the USA:
Canada:
Season 2024-25:
Exports are expected to remain stable at 2.4 million tons.
There has been reduced demand from China and USA, but exports to Bangladesh have increased.
Due to an increase in supply and a decrease in domestic consumption, carry-out stocks are expected to rise to 425,000 tons compared to last year.
Average prices are likely to be lower than in 2023-24.
In January, yellow peas saw a price increase of $15/ton, while green peas prices in Saskatchewan remained stable.
Green peas are expected to maintain a $190/ton premium over yellow peas, compared to $185/ton in 2023-24.
~~~~~~~~~~~~~~~~~~~~~~~
USA:
According to the USDA, dry pea production is expected to be 760,000 tons, which is a 7% decrease compared to 2023-24.
Imports from Canada are expected to decline, with the quantity likely limited to 120,000 tons in 2024-25, compared to the previous year.
~~~~~~~~~~~~~~~~~~~~~~~
Season 2025-26:
Canada:
Planting area is expected to increase by 2% to 1.33 million hectares compared to 2024-25.
Production is likely to rise by 2% to reach 3.1 million tons, leading to a 5% increase in supply due to higher carry-in stocks and increased production.
Exports are expected to remain stable at 2.4 million tons.
Carry-out stocks are projected to rise to 480,000 tons.
Due to increased global supply, average prices are expected to be lower than in 2024-25.
~~~~~~~~~~~~~~~~~~~~~~~
Impact on India:
Pea imports without duties are allowed until February 28, 2025, with only 8 days remaining.
The longer it takes for a decision to be made, the more the market could expand.
As stated by the minister, the cabinet will soon make a decision to potentially stop pea imports, and the market will depend entirely on this government decision.
If changes are made to import rules, it may not only affect pea prices but also the prices of other pulses.